Insider Selling: Marketo CEO Sells 5,000 Shares of Stock (MKTO)
Marketo (NASDAQ:MKTO) CEO Phillip M. Fernandez sold 5,000 shares of Marketo stock on the open market in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $29.61, for a total value of $148,050.00. Following the transaction, the chief executive officer now directly owns 84,541 shares of the company’s stock, valued at approximately $2,503,259. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Davidson initiated coverage on shares of Marketo in a research note on Thursday, August 28th. They set a “buy” rating on the stock. Separately, analysts at DA Davidson initiated coverage on shares of Marketo in a research note on Tuesday, August 26th. They set a “buy” rating and a $49.00 price target on the stock. Finally, analysts at First Analysis initiated coverage on shares of Marketo in a research note on Wednesday, July 23rd. They set an “overweight” rating on the stock. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Marketo presently has a consensus rating of “Buy” and a consensus target price of $47.80.
Shares of Marketo (NASDAQ:MKTO) traded up 1.71% during mid-day trading on Wednesday, hitting $30.30. The stock had a trading volume of 495,515 shares. Marketo has a 52-week low of $22.02 and a 52-week high of $45.00. The stock has a 50-day moving average of $27. and a 200-day moving average of $29.6. The company’s market cap is $1.235 billion.
Marketo (NASDAQ:MKTO) last posted its quarterly earnings results on Thursday, July 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.13. The company had revenue of $36.00 million for the quarter, compared to the consensus estimate of $33.97 million. During the same quarter in the previous year, the company posted ($0.49) earnings per share. The company’s revenue for the quarter was up 60.1% on a year-over-year basis. On average, analysts predict that Marketo will post $-0.91 earnings per share for the current fiscal year.
Marketo, Inc (NASDAQ:MKTO) provides cloud-based marketing software platform that enables organizations to engage in modern relationship marketing.
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